Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its position in shares of Procore Technologies, Inc. (NYSE:PCOR – Get Rating) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,720 shares of the company’s stock after purchasing an additional 352 shares during the period. Arizona State Retirement System’s holdings in Procore Technologies were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in Procore Technologies in the first quarter valued at $31,000. US Bancorp DE raised its holdings in Procore Technologies by 330.3% in the third quarter. US Bancorp DE now owns 753 shares of the company’s stock valued at $37,000 after acquiring an additional 578 shares in the last quarter. Captrust Financial Advisors raised its holdings in Procore Technologies by 55.8% in the second quarter. Captrust Financial Advisors now owns 916 shares of the company’s stock valued at $42,000 after acquiring an additional 328 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Procore Technologies in the first quarter valued at $42,000. Finally, Lazard Asset Management LLC raised its holdings in Procore Technologies by 611.8% in the third quarter. Lazard Asset Management LLC now owns 1,267 shares of the company’s stock valued at $62,000 after acquiring an additional 1,089 shares in the last quarter. 82.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,564 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $64.25, for a total transaction of $293,237.00. Following the completion of the sale, the insider now directly owns 136,374 shares of the company’s stock, valued at $8,762,029.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Procore Technologies news, insider Benjamin C. Singer sold 4,564 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $64.25, for a total transaction of $293,237.00. Following the completion of the sale, the insider now directly owns 136,374 shares of the company’s stock, valued at $8,762,029.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 2,119 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $64.25, for a total transaction of $136,145.75. Following the sale, the senior vice president now directly owns 62,870 shares of the company’s stock, valued at $4,039,397.50. The disclosure for this sale can be found here. In the last three months, insiders sold 182,401 shares of company stock valued at $11,200,368. 40.00% of the stock is owned by insiders.

Procore Technologies Stock Performance

Shares of PCOR opened at $57.63 on Monday. The firm has a 50-day moving average price of $56.54 and a 200 day moving average price of $55.07. The firm has a market capitalization of $8.10 billion, a PE ratio of -28.53 and a beta of 0.55. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 52-week low of $40.00 and a 52-week high of $68.56.

Procore Technologies (NYSE:PCOR – Get Rating) last announced its earnings results on Thursday, February 16th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.02). Procore Technologies had a negative net margin of 36.03% and a negative return on equity of 19.75%. The company had revenue of $202.05 million during the quarter, compared to the consensus estimate of $190.26 million. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on PCOR. JMP Securities reissued a “market outperform” rating and set a $75.00 target price on shares of Procore Technologies in a report on Monday, April 17th. Barclays increased their target price on shares of Procore Technologies from $61.00 to $72.00 in a report on Friday, February 17th. Mizuho dropped their target price on shares of Procore Technologies from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 17th. Oppenheimer increased their target price on shares of Procore Technologies from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Finally, Piper Sandler increased their target price on shares of Procore Technologies from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Procore Technologies Company Profile

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Procore Technologies, Inc provides a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.